Search

Content Types

Subjects

Authors

Research Themes

JEL Codes

Sources

Published After

Published Before

2095 Results

February 23, 2012

Medium-Term Fluctuations in Canadian House Prices

This article draws on theory and empirical evidence to examine a number of factors behind movements in Canadian house prices. It begins with an overview of the movements in house prices in Canada, using regional data to highlight factors that influence prices over the long run. It then turns to the central theme, that there are medium-run movements in prices not accounted for by long-run factors. Drawing on recent Bank of Canada research, the article discusses several factors behind these medium-run movements, including interest rates, expected price appreciation and market liquidity. The article concludes by identifying areas for future research that would further our understanding of fluctuations in house prices.
Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): R, R2, R21, R3, R31

Government Spending Multipliers Under the Zero Lower Bound: Evidence from Japan

Staff working paper 2017-40 Thuy Lan Nguyen, Dmitriy Sergeyev, Wataru Miyamoto
Using a rich data set on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB).

Endogenous Credibility and Wage-Price Spirals

Staff working paper 2024-14 Olena Kostyshyna, Tolga Özden, Yang Zhang
We quantitively assess the risks of a wage-price spiral occurring in Canada over history. We find the risk of a wage-price spiral increases when the inflation expectations become unanchored and the credibility of central banks declines.

BoC–BoE Sovereign Default Database: Methodology, Assumptions and Sources

Technical report No. 117 David Beers, Elliot Jones, John Walsh
Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE).

The COVID-19 Consumption Game-Changer: Evidence from a Large-Scale Multi-Country Survey

A multi-country consumer survey investigates why and how much households decreased their consumption in five key sectors after pandemic-related restrictions were lifted in Europe in July 2020. Beyond infection risk and precautionary saving motives, households also reported not missing some consumption items, which may indicate preference shifts and structural changes in the post-COVID-19 economy.

Corporate investment and monetary policy transmission in Canada

Staff analytical note 2020-26 Min Jae Kim, Jonathan Witmer
Unexpected changes in interest rates lead small firms to materially change their investment rate. Large firms, in contrast, show a smaller response. This suggests both that financial conditions are an important channel for transmitting monetary policy and that firm characteristics can help us better understand fluctuations in business investment.

The Role of Public Money in the Digital Age

Staff discussion paper 2024-11 Francisco Rivadeneyra, Scott Hendry, Alejandro García
A well-functioning monetary system is characterized by public and private forms of money that exchange at par as value flows freely between them. A relevant retail public money—whether in the form of cash, a central bank digital currency or both—is a necessary component of such a monetary system.
Go To Page